BlackRock (BLK.US) Goldman Sachs (GS.US) Fidelity supports the CLARITY Act, and the stablecoin dispute has become the biggest obstacle

According to Woofun AI, Samara Cohen, head of global market development at BlackRock (BLK.US), made a clear statement to the “Political” newspaper, seeing the CLARITY Act as a key step in building an investor-centered regulatory framework. Meanwhile, the “Innovation Crypto Commission”, represented by the digital asset industry, released the “Myths and Facts” report to defend the legislation, stressing that it can strengthen supervision, enhance customer protection, and crack down on illegal financial activities.

Despite the report's industry stance, BlackRock (BLK.US)'s endorsement, as a giant that manages large-scale regulated investment and tokenization businesses, is decisive, forcing legislators to ignore this voice from traditional financial giants.

BlackRock (BLK.US)'s shift in position is deeply tied to its business layout. By the end of June, the company's assets under management had reached 15.3 trillion US dollars. This size made its opinions far exceed the demands of ordinary companies in the crypto industry. Larry Fink revealed in a 2026 letter from the chairman to shareholders that BlackRock (BLK.US) manages nearly $80 billion in assets through digital asset exchange trading products, holds $65 billion in stablecoin reserves, and operates the largest RWA (Real World Asset) tokenized fund. Looking back at history, Fink viewed cryptocurrencies as a reflection of money laundering needs in 2017, but then BlackRock (BLK.US) launched a number of BTC and Ethereum-related products to expand its tokenized fund and stablecoin reserve management business. In an official interview in 2025, Fink acknowledged that he had grown and improved. Today, the agency, which once viewed the crypto market as mainly involved in the area of financial crime, is calling for more clear rules for the market to match its growing digital asset exposure.

According to data compiled by Woofun AI, the attitudes of other financial institutions are divided, but the core demands are the same. Goldman Sachs (GS.US) CEO David Solomon supports advancing the CLARITY Act, admitting its shortcomings but believing that a clear market structure can improve stability and create clear conditions for the development of digital asset companies. Fidelity's public policy department says the framework is balanced and brings legal clarity, benefits US investors, and strengthens America's position in the digital asset market. In a market research report released on July 24, Charles Schw.US sees the passage of the bill as a key factor in reinvigorating institutional investment interest, but this is only a research-level analysis, not an official statement of support. These companies face a common practical problem: unclear asset classification makes asset storage, trading, tokenization, and product development difficult to plan.

Notably, despite institutional enterprise support, disputes that hinder the progress of the bill remain, the most important of which is the issue of stablecoin rewards. The new framework prohibits payment of similar interest on passively held stablecoin balances, but allows rewards based on trading conditions or platform activity. Banks believe that such incentives may attract deposits away from regulated financial institutions, while companies in the crypto industry believe that excessive restrictions will save banks from competitive pressure. Goldman Sachs (GS.US)'s position is particularly critical. Solomon supports moving the bill forward, while other bank executives continue to oppose stablecoin reward provisions. Their views focus on the value of establishing market rules rather than ignoring banking concerns.

Deep barriers to legislation relate to the scope of political ethics and compliance. Lawmakers disagree on the extent to which senior officials and their families are restricted from issuing, promoting, or profiting from digital assets and their enforcers. Furthermore, disputes over the scope of application of compliance obligations focus on decentralized platforms and software developers that do not hold customer assets. These questions go far beyond determining which regulator is responsible for overseeing a particular kind of token. BlackRock (BLK.US), Goldman Sachs (GS.US), and Fidelity each have commercial considerations behind the bill, and clarifying rules can reduce legal uncertainty in existing or planned business areas. Compared to smaller competitors, large enterprises are better able to bear the costs of licensing, reporting, and compliance.

However, corporate support does not mean that every provision benefits consumers or promotes fair competition; it only shows that regulatory uncertainty has affected large companies in the financial sector. The next test is whether lawmakers can resolve stablecoin rewards, political ethics, and compliance disputes before institutional support weakens.